Coinbase- a United States based crypto exchange has been showing interest on considering a launch of an IEO platform.
Based on the reports, it was revealed by Kayvon Pirestani, head of institutional sales in Asia. Sept 11, during a panel at the Invest: Asia Conference.
IEO Platform to be announce within months.
Piretani said the exchange sees an interesting opportunity for the business:
“In a nutshell, Coinbase is carefully exploring not only the IEO space but also STOs. But I can’t make any formal announcements right now.”
The IEO model mainly involves the issuance of a proprietary exchange token that is used for the token sales. Best example is with Binance’s native token Binance Coin (BNB) on the exchange’s Launchpad token offering platform.
Pirestani specifically said that a potential IEO announcement may be announced in the next few months.And the exchange’s pursuit of regulated securities offerings remains in relative infancy.
Offering Security Tokens?
In Summer 2018, Coinbase gained several security dealers. Includes: Keystone Capital Corp and Venovate Marketplace Inc and also Digital Wealth LLC.
During that time, the exchange also announced that these represented the beginning on becoming a fully regulated broker-dealer under supervision of the United States Security and Exchange Commission or SEC. When this happens, the platform will be soon have the ability to offer compliant blockchain based securities.
However, Coinbase formally withdraw its claim that the acquisitions happened with the involvement of SEC and Financial Industry Regulatory Authority or FINRA. SEC confirmed that it did not give its approval about the deal.
Eventually the exchange secured the broker-dealer licenses, said Pirestani. The platform on the other hand was still working on their licenses.